Tracker/Variable

[CorkHombre]

What is the difference between a tracker and a variable mortgage?
I have been offered a tracker that is guaranteed to be 1.1% above the ECB rate are there any better deals than this out there?
Are there big penalties if you want to clear the mortgage early? (is this comparable to variable rate mortgage)

 

[ClubMan]

http://www.askaboutmoney.com/showthread.php?t=22616

 

[CCOVICH]

What is the Loan to Value (LTV ratio). There is a listing of the best available rates for 60%-92% LTV in the Best Buys forum (link in my sig).

There should be no penalties for early redemption of a tracker.

 

[aislingkelly]

Hi the difference between tracker/variable is that the catch with tracker is the loan amount must be at least 250,000euro or u cant get it but if ur loan is that amount a tracker mortgage does work out better for u in the long run

 

[CCOVICH]

Hi the difference between tracker/variable is that the catch with tracker is the loan amount must be at least 250,000euro

Is this the case with all lenders?

 

[CollyD]

Removed for personal reasons

 

[cloughy]

AIB have 3 different trackers, one where LTV GT 60% and mortgage GT 250K, one where LTV LT 60% and mortgage GT 250K and one where mortgage is less than 250K. The last is the more expensive, and the first is the dearest as far as I know.